Feeding the Future

Supply challenges have supported crop prices and provide incentive for growers to boost production Corn Avg. Realized Price USD/bushel Soybean Avg. Realized Price USD/bushel $14.30 $6.60 $13.00 $13.30 $6.00 $11.58 $5.26 $10.80 $10.10 $4.46 $4.53 $8.95 $9.47 $9.33 $3.70 $3.61 $3.36 $3.36 $3.61 $3.56 $8.48 $8.57 13/14 14/15 15/16 16/17 17/18 18/19 19/20 20/21 21/22 22/23E 2023 13/14 14/15 15/16 16/17 17/18 18/19 19/20 20/21 21/22 22/23E 2023 Futures Futures Wheat Avg. Realized Price USD/bushel Canola Avg. Realized Price CAD/bushel $8.90 $7.63 $6.87 $5.99 $6.15 $4.89 $5.16 $4.72 $5.05 $4.58 $3.89 $11.41 $11.09 $11.54 $12.00 $12.22 $11.27 $10.97 $12.25 13/14 14/15 15/16 16/17 17/18 18/19 19/20 20/21 21/22 22/23E 2023 Futures $24.38 $19.28 $16.71 13/14 14/15 15/16 16/17 17/18 18/19 19/20 20/21 21/22 22/23E 2023 Futures Note: 22/23E are estimated prices. 2023 futures prices reference September 2023 Wheat, November 2023 Soybean, December 2023 Corn, and December 2023 Cotton as of May 31, 2023. 15 Source: USDA, Bloomberg

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